---
title: "Invesco: It is expected that central banks around the world will continue to increase their gold reserves, and the upward trend in gold prices is likely to continue"
description: "Invesco Asia-Pacific Global Market Strategist Zhao Yaoting pointed out that central banks around the world continue to increase their gold reserves, driving demand for gold. Gold has become the second"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/260985494.md"
published_at: "2025-10-14T05:14:02.000Z"
---

# Invesco: It is expected that central banks around the world will continue to increase their gold reserves, and the upward trend in gold prices is likely to continue

> Invesco Asia-Pacific Global Market Strategist Zhao Yaoting pointed out that central banks around the world continue to increase their gold reserves, driving demand for gold. Gold has become the second-largest reserve asset for global central banks, and central banks have yet to find an alternative currency to the US dollar. Despite high gold returns in 2023 and 2024, ETF investor participation remains low. A strong performance of gold in 2025 may attract investors back to the market, and if this trend continues, it could drive up gold prices

Invesco Asia-Pacific Global Market Strategist Zhao Yaoting believes that a major driver of gold demand is the accumulation of gold by central banks as official reserves. In fact, gold has surpassed the euro to become the second-largest reserve asset for global central banks. Central banks are purchasing gold because they have not yet seen alternatives to fiat currencies other than the US dollar. He believes that the subsequent rise in gold prices may continue to be supported. Although gold has achieved double-digit returns in both 2023 and 2024, investor participation through ETFs remains relatively low. In contrast, the strong performance of gold so far in 2025 has attracted investors back to the market, with ETF inflows turning positive. If this trend continues, the new investment participation may become a significant driving force for pushing gold prices upward

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.